The Daily Deal article, “Intellitravel Gets Bid Procedures Nod,” reported on Intellitravel Media Inc.’s recent win, approving bidding procedures with a stalking-horse offer of more than $500,000. Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York in Manhattan approved the bidding procedures on December 27th. Morris Visitor Publications LLC has offered $500,000 for the debtor’s assets, plus 80% of the value of the company’s accounts receivable. Meyer Suozzi Bankruptcy and Restructuring Chair Thomas R. Slome and Member Jil Mazer-Marino represent the official committee of unsecured creditors.
Media Source: Daily Deal